Fluoropolymer Materials Market – Global Industry Analysis 2023

Fluoropolymer is characterized as a fluorocarbon-based polymer with various solid carbon-fluorine bonds. The chemical structure of fluoropolymers consists of polymer chains made up of fluorine atoms. Fluoropolymers can be defined as semi-crystalline, high-performance thermoplastics. The fluoropolymer family comprises a group of homopolymers and copolymers. Growth of the fluoropolymer materials market is expected to be driven by rising demand for fluoropolymer materials in the manufacture of semiconductors used in electrical appliances such as smartphones and computers.

Fluoropolymers are extensively used in data communication, renewable energy, automotive, electronics, aerospace, and building applications. The utility of fluoropolymers arises from properties such as high temperature resistance, outstanding chemical resistance, better toughness, outstanding electrical properties, and low coefficient of friction. Fluoropolymers are also being used in coatings for all-weather apparel and nonstick cookware since the past decade. Fluoropolymers are widely used innumerous chemical plants and various semiconductor parts as they are maintenance-free even under severe circumstances and contribute to improving productivity. The excellent performance of fluoropolymers in extreme environments and demanding applications act as major drivers for the global fluoropolymer market. Concerns regarding environmental effects and health hazards of fluoropolymers can act as a limitation for the fluoropolymers market.

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Fluoropolymers play a vital role in numerous services and products that are frequently used by human beings in their day-to-day activities. Stringent regulatory environment is expected to hamper development of the fluoropolymer market. Perfluorooctanoic acid (PFOA), which is utilized as a raw material, is considered to be carcinogenic by the USEPA. Usage in a wide range of household products including furniture sprays and stain-resistant carpets is the main source of PFOA contamination, which is anticipated to hamper the market growth during the next few years.

Asia Pacific is anticipated to be the fastest-growing market for fluoropolymers. Demand for fluoropolymer materials in the region is estimated to be chiefly driven by swift rise in consumption of fluoropolymers in India and China. Development in the automotive, aerospace, and other transportation systems is anticipated to drive the fluoropolymer market in Asia Pacific. Lightweight materials are preferred in most industries due to the need for enhanced fuel efficiency and lower emission. This, in turn, propels growth of the fluoropolymers market in countries such as India, China, and Japan.

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Electronics and electrical is the largest end-user industry of fluoropolymers, where they are gradually being preferred for usage in cable and wire insulation, jacketing, lithium-ion batteries, and semiconductor fabrication. Technological development in the field of electronics, particularly in South Korea and Taiwan, has led to increase in utilization of these materials to enable superior tensile strength and high thermal stability.

Key companies in the fluoropolymers market are largely focusing on these growing economies for tapping their strong market potential. North America is another dominant market for fluoropolymers, particularly due to significant demand from the cable and wire industry in the U.S. Polytetrafluoroethylene (PTFE) is the dominant fluoropolymer, accounting for more than half (by weight) of the world’s fluoropolymer consumption. China is the world’s largest consumer of PTFE, while the U.S. is the largest consumer of other fluoropolymers.

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Some of the major companies operating in the global fluoropolymers market are Jinan 3F Fluoro-Chemical Co. Ltd, AGC Chemicals Europe, Dyneon GmbH,3M,AGC Chemicals Europe, Zhonghao Chenguang Research Institute of Chemical Industry, DuPont, Solvay Solexis, Ltd.,Gujarat Fluorochemicals Ltd., Shanghai 3F,Fuxin Hengtong, Honeywell International Inc., and DAIKIN INDUSTRIES, Ltd.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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